Craig and Marsha own a vacation home in another state as tenants by the entirety. They want to keep the home to pass to their children after the couple passes away but they want the home to avoid ancillary probate. Which planning technique can accomplish their goal?
- Transfer the home to an irrevocable trust and name the children as beneficiaries.
- Retitle the home as tenants in common.
- Retitle the home as JTWROS.
- Title the home as TOD with the surviving spouse.